We are advising the lender in connection with the facilities

Davis Polk is advising Walgreens Boots Alliance, Inc., as lender, in connection with a $2.25 billion senior secured credit financing, comprised of (i) a term loan credit facility in an aggregate original principal amount of $1.75 billion and (ii) a revolving credit facility in an aggregate original committed amount of $500 million. The facilities are being provided to Village Practice Management Company, LLC in connection with its acquisition of Summit Health-CityMD (a deal valued at approximately $8.9 billion).

Walgreens Boots Alliance, traded on Nasdaq, is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities. A trusted, global innovator in retail pharmacy with approximately 13,000 locations across the U.S., Europe and Latin America, Walgreens Boots Alliance plays a critical role in the healthcare ecosystem.

VillageMD, majority owned by Walgreens Boots Alliance, provides care for patients at freestanding practices as well as at Walgreens locations, virtually and in the home.

Summit Health, which is backed by private-equity firm Warburg Pincus LLC, has more than 370 locations in New York, New Jersey, Connecticut, Pennsylvania and Central Oregon. Summit Health is the parent company of CityMD urgent-care centers.

The Davis Polk finance team includes partner Vanessa L. Jackson and associate Yuko Sin. Partner Kara L. Mungovan and associate Ted Lee are providing tax advice. All members of the Davis Polk team are based in the New York office.

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